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Author Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]  (Read 1422962 times)
111magic
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September 09, 2014, 12:34:41 PM
 #381

there is some typo on the proof of work part ^^, seems "r" is missing out there, just like dev missing enough '"r"est to give the best for XMG community

You're right!
He probably overlooked
I talked to him this morning. He had been working all night.
He will determine correct it if he is back online.
 Wink

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joelao95
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September 09, 2014, 03:17:44 PM
 #382

Just to make sure I am reading this right, you are going to modify M7 to discourage GPU mining? To the extant that at launch it will be CPU only? And if so, will there be a standalone CPU miner available at launch?

Yes, M7 will be modified to disable GPU, and XMG will be CPU minable only. There will be a standalone CPU miner available, will be uploaded and make it workable soon.

Quite good, Ive prepared i7-4790 and AMD 1055T for that purpose...

Have you used them to mine M7 before, how about hash rate?

No , unfortunately I got them theese days and havent been testing them yet.

Here XMG will be the opportunity for testing them out. Smiley

joelao95
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September 09, 2014, 03:19:15 PM
 #383

I can't wait 3 more days for the launch !
This is going to be awesome with such great support and the developers commitment.


yeah me too i can't wait for this coin to launch

This coin is very awesome with the develpoer commitment

Thanks for you guys watching this coin; minging XMG and help spreading news will be the best support of us.

joelao95
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September 09, 2014, 03:22:39 PM
 #384

there is some typo on the proof of work part ^^, seems "r" is missing out there, just like dev missing enough '"r"est to give the best for XMG community

I am lack of quite 'a lot" sleep now, being under stress of worrying any potential issues could happen.  Smiley

serjent05
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September 09, 2014, 03:31:57 PM
 #385

made a video for XMG this isnt that great but at least hope this will help
http://youtu.be/UaJKTWugF8s

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111magic
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September 09, 2014, 03:35:35 PM
 #386

made a video for XMG this isnt that great but at least hope this will help
http://youtu.be/UaJKTWugF8s
Good work serjent05!
 Smiley

serjent05
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September 09, 2014, 03:41:12 PM
 #387

made a video for XMG this isnt that great but at least hope this will help
http://youtu.be/UaJKTWugF8s
Good work serjent05!
 Smiley

thanks ^^
hope other will step up to make a better video for xmg ^^, this coin is very promising! am sure about that

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libivan
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September 09, 2014, 03:43:22 PM
 #388

Congratulations to the Magi Dev Team for all the progresses reached, and also for the coming launch of this revolutionary currency.

Success!
joelao95
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September 09, 2014, 03:47:28 PM
 #389

made a video for XMG this isnt that great but at least hope this will help
http://youtu.be/UaJKTWugF8s

Thanks serjent05, this is just ... AMAZING ... I will contact you about the bounties.

Professor James Moriarty
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September 09, 2014, 04:19:50 PM
 #390


 The fact that its only cpu means too much , it means that we have a weapon against miner arms race because many people with a lot of money go get a lot of gpu farms and mine much faster whereas someone with 5$ can get another 5$ with coupon and mine this with digitalocean or whatever.

 I am very proud ambassador for magi , hopefully I will see it rise and rise in the future.

I'm on the hunt for Sherlock Holmes
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September 09, 2014, 05:20:09 PM
 #391


 The fact that its only cpu means too much , it means that we have a weapon against miner arms race because many people with a lot of money go get a lot of gpu farms and mine much faster whereas someone with 5$ can get another 5$ with coupon and mine this with digitalocean or whatever.

 I am very proud ambassador for magi , hopefully I will see it rise and rise in the future.

Sure, CPU only coins are the best balanced solution. It's fair and safer.
111magic
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September 09, 2014, 09:10:56 PM
 #392

Clock is ticking! little more than three days.
Then it's time for Magic.

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September 09, 2014, 09:25:01 PM
 #393

could someone please direct me to a easy user guide for digital ocean or amazon Web services
to mine this coin
thank you
valta4065
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September 10, 2014, 12:07:50 AM
 #394

could someone please direct me to a easy user guide for digital ocean or amazon Web services
to mine this coin
thank you

Never tried it myself but here http://aws.amazon.com/free/?sc_channel=PS&sc_campaign=AWS_Free_Tier_2013_C&sc_country=US&sc_publisher=Google&sc_medium=b_core_cloud_computing_e-amazon_aws&sc_content=40951079922&sc_detail=Amazonaws&sc_category=aws_cloud_computing&sc_segment=cloud_computing&sc_matchtype=e

joelao95
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September 10, 2014, 12:56:28 AM
 #395

could someone please direct me to a easy user guide for digital ocean or amazon Web services
to mine this coin
thank you


I am going to post the miner; you can try it out then. Basically if you used to use linux, no much difference except everything is done through commands via ssh.

111magic
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September 10, 2014, 04:09:02 AM
 #396

One of the final translation is received.
New translation: German (by blubberli) https://bitcointalk.org/index.php?topic=776461.0

Thank you Blubberli!

joelao95
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September 10, 2014, 05:44:45 AM
 #397

[09-10] Updated OP & coin distribution review

The OP has been reformatted and has a new look now. As I mentioned before, there are some figures yet to be reviewed for finalizing. The PoW mining is divided into two phases. The 1st phase is most important, that has dual roles. The 1st phase XMG minting is supposed to yield significant coins. Second, this is to ensure coins will be minted dominantly by CPU. We primarily focus on finalizing this phase of PoW. The overall block rewards take the following form:  


Features:

# The low diff (less people mining), minimum rewards (10 XMG/block);
# The higher diff, higher rewards, up to 500 XMG/block at diff = 75;
# At even higher diff, reduced rewards with increasing diff (constant 10 XMG/block when diff > 600)

Predicted consequence is fair distribution, avoiding big mining farms and maintaining the network hash under a certain level (unlike BTC network keep increasing). It will frustrate mining farms (if existed) when network hashrate is so high that the mining rewarding is at the decline side. Mining XMG is less profitable compared to mining others; only belivers keeping mining will receive the most out of it. Same frustration applies to GPU miners if they existed.

Important figures include:
1) minimum rewards; 2) maximum 500 XMG/block at diff = 75; 3) reducing rate at high diff.  (open to suggestions)

The most important will be 2) maximum 500 XMG/block at diff = 75. Assume mining at 500 XMG/block, the 1st phase will be done in a month. So basically I'd like to know you prefer how long the 1st phase lasts. Diff = 75 means nearly 2,000 Mhps provided Diff / Mhps is 0.037 (seems reasonable assumption, compared to DRK about 0.039 Diff / Mhps ). Considering AMD CPU miners running at around 0.5Mhps each, that amounts to 4,000 CPU. We are mostly under the limit. Please check the OP for the 2nd phase rewarding.

Edit: I noticed people are interested to the CPU mining, so I am wondering if we should give extended period of mining and increase the number of coins minted through CPU. Please suggest.

The PoS-II interest rate is shown below.

Edit: Here following is the overview of coin distribution in different stages:

1) coins to be swapped: 4.5 million (existing magicoin)
2) PoW 1st phase:        5.5 million (short-term)
3) PoW 2nd phase:        5   million (long-term)
4) PoS-II:                   10  million (long-term)

Total coins will be 25 million.
PLAN changed, read the OP and relevant discussion. We're still able to change these numbers if you like. For some reason, coin swap won't be done totally, these unswapped coins can be either destroyed or issued fairly to the bitcoin members by the time.

joelao95
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September 10, 2014, 06:07:41 AM
 #398

Will try to setup active pool after XGM launch and sources available.

Hoping modified M7 for CPU-only mining will not attract any botnets to this coin.

Thanks, will be in touch for setting up the pool. Smiley

111magic
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September 10, 2014, 10:32:32 AM
 #399

Magicoin XMG added on https://www.altcoincalendar.info/coins/869-XMG

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September 10, 2014, 02:05:13 PM
 #400

bought some magis on swisscex last few days, looking forward to launch  Wink two more days to go

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